Nifty Bank EOD Analysis For 21 Aug

  • As Discussed in Last Analysis; Nifty Bank Bulls will get active above 28270 for a move back to 28450/28666/28900. Bears will get active below 28140 for a move back to 28100/27920/27800. A low was made at 27839, so we almost hit all our targets on the downside. Nifty Bank Bulls will get active above 28100 for a move back to 28225/28450/28666/28900. Bears will get active below 28040 for a move back to 27880/27797/27600.

  • Nifty Bank Aug Future Open Interest Volume is at 14.3 lakh, with a liquidation of 0.59 Lakh, with an increase in the Cost of Carry suggesting short positions were closed today. Nifty Bank Rollover cost is @29286, and closed below it.
  • 29000 CE is having a highest OI @5 Lakh resistance at 28500, followed by 29000. 27000-30000 CE added 2 Lakh in OI so bears added positions in the zone of 28000-28500.
  • 27500 PE is having a highest OI @3.9 Lakh, strong support at 28000 followed by 27500. 27000-29000 PE added 0.34 Lakh OI, so bulls are creating strong support in the range of 27300-27500.

Buy above 28020 Tgt 28125,28215 and  28388  (Nifty Bank Spot Levels)

Sell below 27920 Tgt 27810,27700 and 27600  (Nifty Bank Spot Levels)